Al Hilal Bank Personal Loan

Overview

Al Hilal Bank is an Islamic bank with its headquarters in Abu Dhabi. Found in 2008, it has around 25 branches & over 116 ATMs throughout the UAE currently. The Al Hilal Bank has a mission of contributing to the prosperity and growth of the UAE while creating value for the stakeholders. The bank has various corporate values which are enlisted below.

  1. Care: The bank works towards protecting their people and honoring their commitments.
  2. Integrity: Al Hilal maintains its values and ethics in their work always.
  3. Ambition: It strives to grow and become the best every day.
  4. Discipline: The Al Hilal Bank tries to function with discipline, trying to do things correctly.
  5. Respect: The bank values its collective diversity.

Amongst the huge range of products offered by Al Hilal Bank, one is personal finance. The Al Hilal Bank Personal Loan offers a host of financing solutions that are in compliance with the Sharia law of Islamic banking. This finance is available at attractive profit rates and offers a high loan amount that helps in fulfilling the personal needs of the applicant.

Features and Benefits of Al Hilal Bank Personal Loan

Following are the features and benefits of Al Hilal Bank Personal Loan.

Sharia Compliance

The Al Hilal Personal Finance offers a huge range of solutions in compliance with the Sharia laws of Islamic banking.

Fast approval

The applicant can enjoy a simple and quick process of approval when they buy Al Hilal Bank Personal Loan.

Profit Rates

The bank charges competitive and attractive profit rates on this personal finance.

Finance Amount

This personal finance offers high amounts of finance to the borrower for fulfilling their personal needs.

Flexible Tenure

The repayments on this personal finance are done through easy installments and in flexible tenures.

Minimum Salary

There is a low minimum income requirement to apply for this personal finance.

Eligibility & Documents Required for Al Hilal Bank Personal Loan

The applicant should have a minimum monthly salary of AED 12000 to apply Al Hilal Bank Personal Loan

Documents Required

Category Details
ID/Address Proof Valid Passport, Residence Visa (as applicable)
Bank Statements Previous 6 months’ statements
Other Documents Quotations addressed in the name of Al Hilal BankOther additional documents as mentioned in the procedures and policies of Al Hilal Bank

Frequently Asked Questions

Q1. Is the personal finance by Al Hilal Bank Sharia compliant?

Ans: Yes. The personal finance program by Al Hilal Bank is in compliance with the Sharia laws of Islamic Banking.

Q2. What all benefits can I obtain through this Al Hilal Bank personal loan?

Answer: You can obtain various benefits on this personal finance including the quick process of approval, flexible tenure, attractive profit rates, and more.

Q3. Do I have to pay any documentation and processing fee?

Ans: Yes. You will have to pay a documentation and processing fee of 1.05 percent of the finance amount, where, the minimum amount is 525 AED and the maximum amount is 2,625 AED.

Q4. Is Life Takaful available with this personal finance?

Ans: Yes. Life Takaful is available on this Al Hilal Bank Personal Loan on the payment of a per month charge of 0.025 percent of the finance amount outstanding.

Q5. Can I cancel my application for this Al Hilal Bank personal finance?

Ans: Yes. You can cancel your application without any charges before you sign the agreement.

Q6. Can I make early settlement on my personal loan?

Ans: Yes. You can make early settlement on your personal finance. No fee will be charged on early settlement. You can also avail the option of partial payments at no charges.

Q7. Can I make payments of my installments in advance?

Ans: Yes. You can make payments on your loan installments in advance at no charges.

Q8. What is the late payment charge on my personal finance?

Ans: On each installment, you miss on the repayment of your Al Hilal Bank Personal Loan, you will have to pay a late payment charge of 200 AED. This charge is payable to the charity.

Q9. What is the amount of administrative fees paid on the postponement of installment?

Ans: The bank charges administrative fees of 105 AED on the postponement of installment.

Q0. What amount do I have to pay on liability letter?

Ans: You have to pay an amount of 63 AED on liability letter.